In the context of product development, an opportunity is not an idea for a new product.

In the context of product development, an opportunity is not an idea for a new product.

True

False

Question at position 2

2

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Question at position 2

An opportunity is a product description in embryonic form, a newly sensed need, a newly discovered technology, or a rough match between a need and a possible solution.

An opportunity is a product description in embryonic form, a newly sensed need, a newly discovered technology, or a rough match between a need and a possible solution.

True

False

Question at position 3

3

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Question at position 3

An opportunity for a new product is usually articulated with less than one page of information, often including a descriptive title, a narrative explaining the idea, and sometimes including a sketch of a possible product concept.

An opportunity for a new product is usually articulated with less than one page of information, often including a descriptive title, a narrative explaining the idea, and sometimes including a sketch of a possible product concept.

True

False

Question at position 4

4

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Question at position 4

There are many ways to categorize opportunities, two dimensions are particularly useful. They are (1) the extent to which the team is familiar with the solution likely to be employed, and (2) the extent to which the team is familiar with the need that the solution addresses.

There are many ways to categorize opportunities, two dimensions are particularly useful. They are (1) the extent to which the team is familiar with the solution likely to be employed, and (2) the extent to which the team is familiar with the need that the solution addresses.

True

False

Question at position 5

5

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Question at position 5

Horizon 1 opportunities push out into less-known territory in one or both of the dimensions of the market or the technology. Horizon 2 opportunities represent attempts to exploit opportunities that in some way are new to the world, embodying the highest level of uncertainty.

Horizon 1 opportunities push out into less-known territory in one or both of the dimensions of the market or the technology. Horizon 2 opportunities represent attempts to exploit opportunities that in some way are new to the world, embodying the highest level of uncertainty.

True

False

Question at position 6

6

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Question at position 6

A filtering process selects a subset for further development and, from those, picks one or more champions that will be launched as full product development efforts.

A filtering process selects a subset for further development and, from those, picks one or more champions that will be launched as full product development efforts.

True

False

Question at position 7

7

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Question at position 7

The opportunity identification process embodied in an innovation tournament precedes the product development process

The opportunity identification process embodied in an innovation tournament precedes the product development process

True

False

Question at position 8

8

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Question at position 8

The mission statement articulates these goals and establishes the boundary conditions for an innovation

The mission statement articulates these goals and establishes the boundary conditions for an innovation

True

False

Question at position 9

9

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Question at position 9

Successful innovators are often chronically dissatisfied with the world around them. They notice unmet needs of users, including themselves.

Successful innovators are often chronically dissatisfied with the world around them. They notice unmet needs of users, including themselves.

True

False

Question at position 10

10

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Question at position 10

Opportunities can be identified by studying customers in a selected market segment. These studies (also called user anthropology or consumer ethnography) provide a deeper understanding of the true customer needs than you can obtain through surveys.

Opportunities can be identified by studying customers in a selected market segment. These studies (also called user anthropology or consumer ethnography) provide a deeper understanding of the true customer needs than you can obtain through surveys.

True

False

Question at position 11

11

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Question at position 11

The goal of screening is simply to eliminate opportunities that are highly unlikely to result in the creation of value and to focus attention on the opportunities worthy of further investigation.

The goal of screening is simply to eliminate opportunities that are highly unlikely to result in the creation of value and to focus attention on the opportunities worthy of further investigation.

True

False

Question at position 12

12

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Question at position 12

When it comes to screening opportunities, one specific approach used within established companies is the Real-Win-Worth-it (RWW) method, developed originally by 3M

When it comes to screening opportunities, one specific approach used within established companies is the Real-Win-Worth-it (RWW) method, developed originally by 3M

True

False

Question at position 13

13

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Question at position 13

The product planning process takes place after a product development project is formally approved, before substantial resources are applied, and before the larger development team is formed.

The product planning process takes place after a product development project is formally approved, before substantial resources are applied, and before the larger development team is formed.

True

False

Question at position 14

14

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Question at position 14

The product plan identifies the portfolio of products to be developed by the organization and the timing of their introduction to the market.

The product plan identifies the portfolio of products to be developed by the organization and the timing of their introduction to the market.

True

False

Question at position 15

15

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Question at position 15

The product plan is regularly updated to reflect changes in the competitive environment, changes in technology, and information on the success of existing products.

The product plan is regularly updated to reflect changes in the competitive environment, changes in technology, and information on the success of existing products.

True

False

Question at position 16

16

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Question at position 16

In terms of derivatives of existing product platforms, these projects extend an existing product platform to address familiar or adjacent markets with new products or features.

In terms of derivatives of existing product platforms, these projects extend an existing product platform to address familiar or adjacent markets with new products or features.

True

False

Question at position 17

17

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Question at position 17

Once projects have been selected and resources allocated, a mission statement is developed for each project

Once projects have been selected and resources allocated, a mission statement is developed for each project

True

False

Question at position 18

18

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Question at position 18

The second step in the product planning process is therefore to select the most promising projects to pursue.

The second step in the product planning process is therefore to select the most promising projects to pursue.

True

False

Question at position 19

19

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Question at position 19

A technology roadmap is a way to represent the expected availability and future use of various technologies relevant to the product being considered.

A technology roadmap is a way to represent the expected availability and future use of various technologies relevant to the product being considered.

True

False

Question at position 20

20

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Question at position 20

The objective defined by a product vision statement may be very general. It may not say which specific new technologies should be used, nor does it necessarily specify the goals and constraints of functions such as production and service operations.

The objective defined by a product vision statement may be very general. It may not say which specific new technologies should be used, nor does it necessarily specify the goals and constraints of functions such as production and service operations.

True

False

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